... Unsurprisingly, the ban was lifted at the end of May but reintroduced in August after both wholesale and retail gasoline prices spiked sharply in June and July. This surge was primarily driven by high seasonal demand during the vacation period and rising oil prices at that time. According to Dmitry Gusev, deputy chairman of the supervisory board of the "Reliable Partner" association and a member of the expert council of the "Russian Gas Station" competition, the end of the high-demand ...

... Tereshkin's column for the publication "Neftyanka" In the article "In the summer, fuel price growth will outpace the general inflation rate – expert," Sergey Tereshkin, the CEO of the oil products and raw materials marketplace OPEN OIL MARKET, analyzes gasoline price dynamics in Russia. He notes that in May 2024, the annual growth in gasoline prices was 8.0%, which corresponds to an inflation rate of 8.2%. However, weekly data from Rosstat indicate an acceleration in price growth in June, which could lead to ...

... In this context, wouldn't it be simpler to tie damper payments to the cost of fuel on the St. Petersburg International Commodity Exchange (SPbMTSB)? For example, to the upper price limits under the existing "10-20" rule, according to which oil companies lose damper payments if the average monthly exchange price of AI-92 gasoline exceeds the internal threshold by 10%, and the exchange price of diesel fuel exceeds the internal threshold by 20%. The threshold for AI-92 gasoline is 64,515 rubles per ton, and for diesel fuel, it is 66,000 rubles per ton. ...

... direct shipments from refineries to oil depots and gas stations, bypassing the exchange. This leads to lower competition in the AI-98 distribution chain compared to AI-92, contributing to the accelerated price growth. According to analysts at OPEN OIL MARKET, the risks of price increases could be mitigated by boosting production of petroleum products. However, this is challenging due to sanctions on equipment supplies for refineries. As a result, by the end of 2024, the difference in price growth rates between AI-98 ...

... to rise from 13.2 million barrels per day in the second quarter to 13.5 million barrels per day in the fourth quarter of 2024, driven by high prices that sustain profitability for shale projects. Tereshkin notes that despite the increased supply, oil prices are expected to remain stable at around $80 per barrel until the end of 2024, with a potential price decline anticipated in early 2025. According to the U.S. Energy Information Administration (EIA), in the second quarter of 2024, the gap between ...